Forex Technical Analysis: Trend potential – Short EUR now.

EURUSD – Up

Technical observation

On the daily chair above,EURUSD broke down below a support zone(1.2393-1.2368),a bullish pin bar was then seen within the zone after the breakout then price went down, right now price is being corrected to the zone and I expect a possible rejection of it around the zone for bearish movements of price towards 1.2185 or even break below the key line and proceed further down to 1.1935 and even 1.1721,my advice, short EURUSD now around (1.2393-1.2368),with your first take profit at 1.2185 and the next at 1.1935 and your stop loss around 1.2452.In case price breaks above the resistance zone, wait for a retracement to it before entering long position.

Technical levels

Resistance levels

R1.1.2291

R2.1.2331

R3.1.2413

Pivot

1.2250

Support levels

S1.1.2209

S2.1.2166

S3.1.2084

Trade signal

Short EUR now with your take profit at 1.2185 and your stop loss around 1.2452.

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